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this post was submitted on 23 Jun 2024
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The problem right now is one of supply and demand, not because corporations are buying up too many properties. It's the other way around where corporations are buying up properties, because due to not increasing supply, and demand continue rising, it's a good investment.
We need more high density housing all over the place. I live in a nice little town right outside a large US city. We have a train right into the city, and a nice little downtown area that could certainly use more business. They have been trying to put up apartment buildings, but the NIMBY-ism is through the roof. It's like every little attempt to add more housing, people start whining to high heavens how it is killing our "small town" feel. I mean, I get it, I moved here for a reason, but something has got to give.
I can only imagine what's happening in more rural areas where everyone wants their big lots and single homes.
So I don't really oppose increasing taxes per home, but I don't think it's really going to solve the issue of increasing home prices as that's not the root of the issue.